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Money Concepts Capital Corp Decreases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Defense World ·  10/04 16:31

Money Concepts Capital Corp trimmed its holdings in Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 95.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174 shares of the company's stock after selling 3,839 shares during the quarter. Money Concepts Capital Corp's holdings in Zscaler were worth $27,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Zscaler by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 7,611,843 shares of the company's stock valued at $1,836,586,000 after buying an additional 68,301 shares during the period. Capital Research Global Investors raised its position in shares of Zscaler by 40.4% during the 1st quarter. Capital Research Global Investors now owns 4,377,330 shares of the company's stock valued at $1,056,162,000 after buying an additional 1,259,876 shares during the period. First Trust Advisors LP raised its position in shares of Zscaler by 75.2% during the 1st quarter. First Trust Advisors LP now owns 2,265,816 shares of the company's stock valued at $546,696,000 after buying an additional 972,637 shares during the period. Champlain Investment Partners LLC raised its position in shares of Zscaler by 9.2% during the 1st quarter. Champlain Investment Partners LLC now owns 1,061,380 shares of the company's stock valued at $256,090,000 after buying an additional 89,036 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Zscaler in the 1st quarter valued at approximately $168,365,000. Hedge funds and other institutional investors own 45.51% of the company's stock.

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Zscaler Price Performance

Shares of NASDAQ:ZS opened at $170.51 on Tuesday. The company has a 50-day simple moving average of $165.18 and a 200-day simple moving average of $174.50. Zscaler, Inc. has a one year low of $125.12 and a one year high of $376.11. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of -61.56 and a beta of 0.96.

Zscaler (NASDAQ:ZS – Get Rating) last announced its earnings results on Thursday, September 8th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.05. Zscaler had a negative net margin of 35.77% and a negative return on equity of 55.59%. The business had revenue of $318.06 million during the quarter, compared to analysts' expectations of $305.54 million. During the same period in the prior year, the company earned ($0.48) earnings per share. The business's revenue was up 61.4% compared to the same quarter last year. On average, analysts predict that Zscaler, Inc. will post -2.17 EPS for the current year.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 8,045 shares of the business's stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $167.97, for a total transaction of $1,351,318.65. Following the transaction, the insider now directly owns 135,381 shares in the company, valued at $22,739,946.57. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Zscaler news, CFO Remo Canessa sold 10,366 shares of the company's stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $167.97, for a total transaction of $1,741,177.02. Following the transaction, the chief financial officer now directly owns 293,093 shares in the company, valued at $49,230,831.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 8,045 shares of the company's stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $167.97, for a total transaction of $1,351,318.65. Following the transaction, the insider now owns 135,381 shares in the company, valued at $22,739,946.57. The disclosure for this sale can be found here. Insiders have sold a total of 171,514 shares of company stock worth $28,809,807 over the last ninety days. 20.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Zscaler from $200.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, September 9th. Stifel Nicolaus lifted their target price on shares of Zscaler from $200.00 to $210.00 and gave the company a "buy" rating in a report on Friday, September 9th. Needham & Company LLC lifted their target price on shares of Zscaler from $185.00 to $210.00 and gave the company a "strong-buy" rating in a report on Friday, September 9th. Credit Suisse Group dropped their target price on shares of Zscaler from $310.00 to $275.00 and set an "outperform" rating for the company in a report on Friday, September 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zscaler from $190.00 to $215.00 and gave the company a "buy" rating in a report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $235.03.

About Zscaler

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Zscaler, Inc operates as a cloud security company worldwide. It offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.

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